Jennison Associates LLC Acquires 870,327 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Jennison Associates LLC raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,493,648 shares of the bank’s stock after acquiring an additional 870,327 shares during the quarter. Jennison Associates LLC owned about 5.06% of Brookline Bancorp worth $49,026,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after acquiring an additional 2,200 shares during the last quarter. Advisor Partners II LLC bought a new stake in Brookline Bancorp during the third quarter valued at $104,000. Fox Run Management L.L.C. bought a new stake in Brookline Bancorp during the third quarter valued at $106,000. Ieq Capital LLC bought a new stake in Brookline Bancorp during the third quarter valued at $110,000. Finally, SG Americas Securities LLC bought a new stake in Brookline Bancorp during the third quarter valued at $131,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Up 2.0 %

BRKL opened at $9.56 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. Brookline Bancorp, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $11.52. The firm has a market capitalization of $857.05 million, a PE ratio of 11.12 and a beta of 0.75. The company’s 50-day moving average is $9.59 and its 200 day moving average is $9.79.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The company had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. During the same quarter in the prior year, the business posted $0.39 EPS. As a group, research analysts predict that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on BRKL shares. TheStreet raised shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. Finally, StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Brookline Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company's loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.